I N F O G R A P H I C
I N F O G R A P H I C
VIXIO RELEASES H1 2024 EUROPEAN ENFORCEMENT REPORT , SHOWING REGULATORS FOCUSED ON AML VIOLATIONS AND BANKS THE MOST HARD-HIT
ixio , a leading provider of regulatory intelligence
V solutions , released its
European Enforcement Report for H1 2024 . The report analyses enforcement actions in the UK and EU using Vixio ’ s proprietary Horizon Scanning Tool and Enforcement Tracking function .
Notably , Vixio analysts found that a majority ( 54 %) of enforcement actions have been for anti-money laundering
( AML ) violations . AML is often a priority for regulators , but the high level of AML enforcement could also be attributed to the EU ’ s ongoing AML reforms , including the establishment of a new AML authority , which will be based in Frankfurt .
“ We are seeing a significant focus on AML compliance from regulators across the EU and UK , and this trend is only set to intensify with the establishment of the new AML authority in Frankfurt ,” said Roseanne Spagnuolo , Chief Content Officer , Vixio . “ Our report highlights the increasing scrutiny financial institutions face , especially in the banking sector , and underscores the importance of robust compliance measures . With enforcement activity concentrated in areas like AML , data protection and business conduct , it ’ s clear that organisations need to be more vigilant than ever .” �
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